{KXLG – Watertown, SD} South Dakota Attorney General Marty Jackley today announced that Margaret Jean Spears-Pederson, a 67-year-old Watertown woman, reported with a Sioux Falls address, has been indicted by a Codington County Grand Jury on one count of Grand Theft. The indictment alleges that Spears-Pederson took unauthorized control of monies owned by 16 different victims, with a combined value of between $100,000 and $500,000. She owned Pederson Travels in Watertown, SD.
The alleged theft occurred in Codington County between January 1, 2023, and January 1, 2025. The indictment, filed on May 22, 2025, charges Spears-Pederson with a Class 3 Felony.
“The defendant is alleged to have violated the victims’ trust,” said Attorney General Jackley. “This is a good reminder for consumers to do due diligence when agreeing to pay for services. Make sure everything is in writing upfront before you provide payment.”
Spears-Pederson made her initial court appearance in Codington County on Wednesday, June 4, 2025. Bond has been set at $50,000 cash surety. If convicted, she faces a maximum sentence of 15 years in prison.
The South Dakota Consumer Protection Division, the South Dakota Division of Criminal Investigation, and the Watertown Police Department investigated the case, which the Attorney General’s Office is prosecuting.
A separate order issued by the South Dakota Supreme Court on the same day reveals that all judges of the Third Judicial Circuit have recused themselves or are unable to act in this case. Information suggests this recusal is due to Margaret Jean Spears-Pederson’s familial connection to the Third Judicial Circuit, as her husband is Robert Spears, who resides in Watertown. As a result of this widespread recusal, Retired Judge Mark Barnett has been appointed to hear and decide the matter.
An indictment is a formal accusation, and Spears-Pederson is presumed innocent until proven guilty in a court of law.
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